Ethereum Price Prediction: ETH Eyes $3,000 After 5% Weekly Gain

3 weeks ago 7

Ethereum price gained +5% over the past 7 days. Currently trading around $2,750, Ethereum is at a crucial price level that could determine its next move. What's next for Ethereum,? Let's analyze in this Ethereum price prediction article.

Ethereum Up by 5% in the Past 7 Days

In the past week, Ethereum has seen a notable 5% increase, reflecting renewed interest and confidence in the cryptocurrency. This gain comes as part of a broader bullish trend in the crypto market, where major digital assets are experiencing positive momentum. Ethereum's steady rise has positioned it as a strong contender in the current market environment, attracting attention from both traders and long-term investors.

Ethereum’s Current Price at $2,750, A Critical Price Area

Ethereum’s current price of approximately $2,750 marks a critical area for the cryptocurrency. This price point is seen as a significant level of support that could either hold firm, leading to further gains, or falter, potentially resulting in a pullback. The $2,750 level is closely watched by market participants as it could set the stage for Ethereum's next major move.

ETH/USD 1-day chart - TradingView

Ethereum Price Prediction: Targeting the Psychological Price of $3,000

Looking ahead, Ethereum price prediction indicates that the next key target for ETH is the psychological price level of $3,000. This milestone is more than just a number—it represents a significant barrier that could propel Ethereum to new heights if breached. A break above $3,000 would likely lead to increased buying pressure and a boost in market sentiment, further solidifying Ethereum’s bullish outlook.

Other Target: The $3,200 Resistance Level

Beyond the $3,000 psychological barrier, another important target for Ethereum is the resistance level of $3,200. This area is seen as a strong resistance point that ETH will need to overcome to continue its upward trajectory. If Ethereum manages to break through this resistance, it could open the door to even higher price levels, potentially leading to a sustained bull run.